JAY-Z has applied for a sports betting licence in New York

Jay-Z is currently in the process of having a sports betting licence in New York approved.

As reported by Forbes, sports apparel merchants, Fanatics are looking to expand their business into gaming tickets and media, following their rapid growth.Among the new areas of business that they’re looking to tap into, they’re also adding sports betting into the mix.

To do so, they’ve partnered with a rap icon who’s also the founder of a huge entertainment company in its own right: Jay-Z and Roc Nation.The news follows the rapper’s $325 million investment in the Fanatics sports e-commerce platform with his own Roc Nation.

Coming together with Fanatics owner and the Philadelphia 76ers co-owner Michael Rubin, they have now applied for a gaming licence in the state of New York, to form Fanatics Sportsbook.

Rubin said, “We’ve realized we have this incredible opportunity…to really transition (from) a leading e-commerce company to building the leading digital sports platform. That means, as a sports fan, you go to Fanatics and get any sports product that’s important to you.”

The application is currently yet to receive approval from the New York Gaming Commission.

As per Hypebeast, legal documents reveal that the Roc Nation founder will serve as vice chairman and will also be on the board of directors of new: Fanatics Betting & Gaming entity. Michael Rubin will serve as its new chief executive.

A snippet from the application reads, “Fanatics Sportsbook will use one of the largest sports fan databases in North America and proven sports betting platform and player account management technology to operate sports wagering in New York.”

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